Edible insects such as caterpillars, bees, ants and wasps,
beetles, scale insects, grasshoppers, crickets, locusts, and mealworm are fit
for human consumption and do not produce any toxic effect. Additionally, edible
insects are considered as a rich source of protein, vitamins, and amino acids,
which has a wide range of application in the food & beverage and animal
feed industry. Also, they do not produce toxic gases such as ammonia, which is
harmful to the environment.
Market Forecast:
Increasing
preference for natural ingredients in food & beverage products has surged
the demand for edible insects in the global market. Edible insects contains
high amount of protein, fibre, energy, minerals, vitamins, and fatty acids,
which has shown a high inclination towards the edible insect’s products.
Furthermore, growing environmental impact on the crop field by the use of
chemical fertilizers has surged the demand for sustainable food owing to low
environmental impact, which is likely to increase the global edible insects
market over the review period.
Also, edible insects are relatively cheaper, which has
uplifted the demand for edible insects in the food & beverage industry.
Furthermore, edible insects are not only used in the food and beverage industry
but also has a potential application in the animal feed owing to high amount of
amino acids & minerals. However, the limited availability of edible insects
and absence of regulatory laws may hamper the growth of the edible insects
market over the review period. Nevertheless, all these factors are projected to
contribute to the estimated CAGR of 7.2% of edible insects market during the
forecast period 2017-2023.
On the basis of the application, the edible insects market is
segmented into food & beverages, bakery products, savory snacks, animal
feed, and others. Among all the applications, application in savory snacks is
dominating in the global market owing to presence of high protein, vitamin,
potassium, zinc, calcium, and amino acid content.
On the basis of the distribution channel, the market is
segmented into the store-based and non-store based distribution channel.
However, the store-based distribution channel is dominating the market based on
the one-stop shopping experience.
Competitive Analysis:
The
major players in the edible insects market
Nordic Insect Economy Ltd. (Finland)
Thailand Unique (Thiland)
Haocheng Mealworms Inc. (China)
Chapul Inc. (U.S.)
Nutribug Ltd. (U.K)
Bugsolutely Ltd. (Thiland)
Eap Group, Sarl (France)
Furthermore, increasing demand for natural ingredients in
convenience food in Asia Pacific countries like China, India, and Japan are
likely to boost the growth of the edible insects market during the review
period. Additionally, Brazil and South Africa are experiencing higher
consumption of edible cricket & beetle insects in food preparation, which
is expected to drive the global edible insects market.
Complete Report Details @ https://www.marketresearchfuture.com/reports/edible-insects-market-4902
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